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					                               February 20-22, 2008 | Doubletree Hotel Times Square |
                               New York, NY

                               Distressed Real Estate
                               Investing Summit




Come Together with Active Market Participants
to Pursue Turnaround, Workout and Investment                        Sponsors
Opportunities in Distressed Real Estate

Join property owners and investors, private equity
funds, hedge funds, restructuring specialists, retail
experts and market analysts as they share their
perspectives and develop the relationships needed
to pursue profitable deals in:
•	 Real estate loan portfolios and
   mortgage-backed securities
•	 Foreclosed real estate
•	 Real estate holdings in the context of
   corporate turnarounds
•	 The equity and debt of housing-related retailers
•	 The equity, debt and assets of distressed home builders
                                                                Media Sponsors
           Don’t miss our Pre-Summit Workshop,
           “Critical Techniques in Distressed Real
           Estate Investing”
Infocast Business              About the Distressed Real Estate
Intelligence                   Investing Summit
Conferences                    A number of forces are driving today’s activity in distressed real estate investing.
                               The domino effect of a sharp drop in housing construction, land development
Infocast Business              loan defaults, condominium oversupply and the growing wave of single family
Intelligence Conferences       home defaults, in addition to growing weakness in commercial properties
                               are creating a tsunami of opportunities for distressed investors in the real
provide definitive, up-to-     estate space.
the-minute information
on critical business           The Distressed Real Estate Investing Summit will bring together active market
                               players from throughout the industry, including property owners and investors,
opportunities, challenges      private equity funds, hedge funds, restructuring specialists, retail experts and
and techniques. These          market analysts to share their perspectives, to establish a constructive dialogue,
conferences deliver            to build understanding, and ultimately to develop the relationships needed to
definitive information         pursue profitable deals.
straight from decision-        You’ll hear up-to-the-minute discussions of opportunities in:
makers and active market
                               •	 Real estate loan portfolios and mortgage-backed securities
participants. In addition,     •	 Foreclosed real estate
nationally recognized          •	 Sales of distressed assets
experts deliver advice         •	 Real estate holdings that come into play in the context of
and training that will help       corporate turnarounds
                               •	 The equity and debt of housing-related retailers
businesses to position
                               •	 The equity, debt and assets of distressed home builders
themselves for
maximum profitability.         This is a remarkable opportunity to learn from and network with the leading
                               players in this target-rich space. Please review our program and our nationally-
Our customers find these       recognized faculty and reserve your place today.
events to be consistently
of value.                      About the “Critical Techniques in Distressed
There’s a lot of data out      Real Estate Lending” Workshop
there in the world; Infocast   The workshop will provide all participants in distressed real estate turnaround,
                               workout and investment situations with a detailed discussions of what you
conferences help turn that
                               need to know about valuations for distressed real estate assets, determining
data into valuable             restructuring options, the mechanics and strategy of 363 sales, and the ins and
business intelligence.         outs of acquiring lease holdings in distressed real estate.
Summit Agenda
February 21, 2008
                              Summit Registration and                Opportunities for Buyers and Sellers in Sales of
                         Breakfast: 8:00 AM – 9:00 AM                Distressed Assets

Opening Remarks by Summit Chair                                      » Report from the front on prices and terms of sales transactions
                                                                       in today’s markets
                                                                     » How are prices and terms changing overtime? How will they
Opportunities in Real Estate Loan Portfolios                           likely vary in the future?
                                                                     » Bidding strategies for buyers of distressed real estate assets -
» What strategies will investors likely employ in the                  what you need to know to be successful
  current market?                                                    » What kind of financing is available for purchases?
» How will investors likely hedge their risk over the next year?     » What are the critical aspects of the loan sale agreement?
» Where will investment dollars likely flow in this market?          Moderator:
» What lessons have investors learned and what do they still         John Collen, Partner, QUARLES & BRADY LLP
  need to learn?
» How will the recent financial loses of investment banks effect     Panelists:
  the market for real estate loan portfolios?                        Matthew Bordwin, Managing Director,
                                                                       KEEN CONSULTING, REAL ESTATE DIVISION OF KPMG
Moderator:                                                             CORPORATE FINANCE
Stephen Karotkin, Partner, WEIL GOTSHAL & MANGES LLP                 Alex D. Moglia, President, MOGLIA ADVISORS
Panelists:                                                           Alec P. Ostrow, Shareholder, STEVENS & LEE P.C.
Sanford Herrick, Managing Director,
  HUDSON REALTY CAPITAL, LLC                                                                   Afternoon Networking Break
Robert Sheridan, Principal, ROBERT SHERIDAN & PARTNERS
Additional panelists to be announced

                            Morning Networking Break                 Opportunities in Real Estate as part of
                                                                     Corporate Turnarounds

                                                                     » How do you deal with layers of secured debt in a
Opportunities in Foreclosed Real Estate                                distressed situation?
                                                                     » How will the recent generation of intercreditor agreements
» What are noteworthy elements of recent foreclosures?                 affect strategies?
» How do these contrast to previous foreclosure cycles?              » What will be the obstacles in monetizing real estate
» How has the recent turmoil in the credit markets impacted            commitments and maximizing the value of real estate
  the approach to foreclosed real estate?                              holdings in the next wave of distressed situations?
» What risks and opportunities have arisen out of this turmoil?      » Where will the “buying” opportunities come from (industry
» How will the “world” be different for real estate as a result of     and location)?
  this foreclosure cycle?                                            » Who will be the principal buyers of distressed real estate
Moderator:                                                             opportunities: hedge funds, private equity?
Gregory G. Coppola, Senior Director, BBK                             » Will the next wave of buyers value the distressed
                                                                       opportunities differently than in the past?
Panelists:                                                           » How will the secured lenders’ value their defaulted real
Ethan Buyon, Managing Partner, CRG PARTNERS GROUP LLC                  estate portfolios?
Stuart Green, Chief Investment Officer,
  DENHOLTz ASSOCIATES                                                Moderator:
Roger “Biff” Ruttenberg, Principal, ATLAS PARTNERS, LLC              David Lemke, Partner,
Jordan Socaransky, Principal,                                         WALLER LANSDEN DORTCH & DAVIS, LLP
  WESTPORT CAPITAL PARTNERS LLC                                      Panelists:
                                                                     Ravi Bhagavatula, Director, Special Assets Group,
                                           Group Luncheon              REPUBLIC FINANCIAL CORPORATION
                                                                     William Carroll, Senior Vice President,
                                                                       REGIONS FINANCIAL CORPORATION
                                                                     Allen McMurty, Director, CLW REAL ESTATE SERVICES GROUP
                                                                     Geoff Richards, Co-Head, Special Situations & Restructuring,
                                                                       WILLIAM BLAIR & COMPANY
                                                                     Natalie Wilenskey, Managing Director, CIT
                                                                  February 22, 2008
                                                                  Introduction and Welcoming Comments
Opportunities in Mortgage Backed Securities

» Forecasting prices for mortgage backed securities and related   Opportunities in Housing Related Retailers
  vehicles (i.e., structured investment vehicles, CDOs, etc.)
» Turnaround opportunities: what expertise, staffing and          » Current status and future outlook for distress among retailers
  resources will be required? What will it take to convince         serving the housing market
  investors that you can navigate waters that have stymied        » Identifying distressed investment and turnaround
  many sophisticated financial institutions?                        opportunities in this sector
» What do you need to know about litigation arising out of the    » Valuation of retailers serving the housing market
  subprime debt situation?                                        » Issues peculiar to this sector that investors must be aware of
» When will we see the trough in MBS valuations?                  » Timing issues for investments and turnarounds in retailers
» Where will the unappreciated value be found in MBS and            serving the housing marke
  related vehicles?                                               Moderator:
» What is the investment status and outlook for the               Kenneth Kraft, Partner, HEENAN BLAIKIE LLP
  coming year?
» What should investors know but haven’t yet learned?             Panelists:
                                                                  Michael Epstein, Managing Partner, CRG PARTNERS
Moderator:                                                        Charlie O’Shea, Vice President & Senior Analyst,
James Allen, Partner,                                               MOODY’S INVESTORS SERVICE
  MILLER CANFIELD PADDOCK AND STONE, PLC                          Additional panelists to be announced
Panelists:
Salman A. Kahn, SILVER POINT CAPITAL, L.P.                                                    Morning Networking Break
William O’Connor, Partner, CROWELL & MORING LLP
Thomas Peter Tobin, Director - Sales & Trading,
  MISSION CAPITAL ADVISORS, LLC
                                                                  Opportunities in Distressed Home Builders
                                       Summit Reception
                                          Sponsored by:           » Current status and future prospects for homebuilder distress
                                                                    and Chapter filings
                                                                  » Will the impairment charges impact liquidity or only the
                                                                    balance sheets?
                                                                  » Will the homebuilders be able to keep their land banks and
                                                                    cost structure?
                                                                  » Do the homebuilders have significant off-balance sheet
                                                                    liabilities as a result of their JVs?
                                                                  » Will homebuilders run out of cash before the market turns?
                                                                  » Does a chapter filing help? Does it help M&A
                                                                    transactions/divestiture?
                                                                  Moderator:
                                                                  Alfredo Perez, Partner, WEIL GOTSHAL & MANGES LLP
                                                                  Panelists:
                                                                  Sam Chandan, Chief Economist, REIS, INC.
                                                                  John Baumgartner, Manager, Advisory, KPMG LLP
                                                                  Michael Sandnes, Managing Director,
                                                                    EXECUTIVE SOUNDING BOARD ASSOCIATES

                                                                  Summit adjourns




                         To Register, Call (818) 888-4444
       Fax: (818) 888-4440 | Email: mail@infocastinc.com | www.infocastinc.com/distressed
                    6800 Owensmouth Ave., Suite 300, Canoga Park, CA 91303
Pre-Summit Workshop: Critical Techniques in
Distressed Real Estate Investing
February 20, 2008
8:30 – 9:00      Registration
9:00 – 5:00      Workshop

Welcome and Opening Remarks

Valuation For Distressed Real Estate Assets                 Strategy and Tactics of 363 Sales

» Know your asset                                           » Bankruptcy as a sales tool
» Sources of reliable market data for comparable assets     » The power of section 363: sales “free and clear” of liens,
» Recovery rates for your asset class                         claims and encumbrances
» Uncertainties you must be aware of                        » Protecting the initial bidder: stalking horse protections
» Factoring in market trends and how long it will take to   » Auction procedures and strategies
  complete your deal                                        John Collen, Partner, QUARLES & BRADY LLP
» Exit strategy
» Legal “underwriting” criteria
                                                                                      Afternoon Networking Break
Prassana Mahadeva, Councel, CROWELL & MORING
William O’Connor, Partner, CROWELL & MORING

                            Morning Networking Break        Acquiring Lease Holding in Distressed Investing

                                                            » What does the lessor have to assign
                                                            » Are there enforceable restrictions preventing assumption
Determining Restructuring Options                             and assignment
                                                            » Can burdensome provisions/restrictions in the lease be
»   Initial assessment of distressed situation                stripped out
»   Recognizing the true value of assets                    » Curing defaults as part of the assumption/assignment
»   Developing a realistic restructuring timeline           » Providing adequate assurance of future performance
»   Understanding liquidity needs                           Dave Lemke, Partner,
»   Evaluating and implementing restructuring strategies     WALLER LANSDEN DORTCH & DAVIS, LLP
Marcia Goldstein, Partner, WEIL GOTSHAL & MANGES LLP


                                          Group Luncheon
Five Easy Ways to Register:
                                                                                                           Registration Form
n Phone                                         q Mail                                                     Distressed Real Estate Investing Summit
     (818) 888-4444                                  6800 Owensmouth Ave.
                                                     Suite 300                                             February 20-22, 2008 | Doubletree Guest Suites Times Square
o Fax                                                Canoga Park, CA 91303                                 New York, NY
     (818) 888-4440                                                                                        Please check one or more of the following:
                                                r Web                                                      † I would like to take advantage of the team discount (see left)
p Email                                              http://www.infocastinc.com/                           † I can’t attend, but put me on your mailing list for future programs
     mail@infocastinc.com                            distressed
                                                                                                            Tuition                                   Standard       Govt.
 Tuition                                            Standard                 Government                     Distressed Real Estate Investing           $1695.00     $975.00
                                                                                                            Summit (Feb. 21-22)
 Distressed Real Estate Investing                        $1695.00                    $975.00
 Summit (Feb. 21-22)                                                                                        Workshop: Critical Techniques in            $595.00     $395.00
                                                                                                            Distressed Real Estate Investing
 Workshop: Critical Techniques                             $595.00                   $395.00                (Feb. 20)
 in Distressed Real Estate
 Investing (Feb. 20)                                                                                                                                                  Total:

Discounts:                                                                                                 Name: ________________________________________________________
Government Employees (see above).
Team Discount for teams of three of more from the same organization, the third and subsequent              Position: ______________________________________________________
registrants qualify for a 50% discount (applies to full-price registrants only).
Please note: Discounts are subject to verification and approval. No discounts can be combined.             Organization: __________________________________________________
Venue/Hotel Accommodations:                                                                                Address: ______________________________________________________
The Summit will be held at the DoubleTree Guest Suites Times Square in New York City.
The guest room cost is $279 per night and the cut off date is January 29, 2008.                            City:___________________________ State: __________ Zip: ________
1568 Broadway, New York, NY 10036-8201
                                                                                                           Phone:_________________________ Fax:__________________________
Continuing Education Credits:
Infocast certifies that this activity has been approved for Continuing Education credit by the             Email: ________________________________________________________
State of California in the amount of 8 hours for the summit and an additional 5.5 hours for the
workshop. Continuing Education credit hours are subject to change.                                         Main Supervisor: _______________________________________________
Cancellation, Refunds & Credits:                                                                           Credit Card:        ___Visa         ___Mastercard      ___American Express
Should you be unable to attend, a refund, less a $195 administrative charge, will be made
for cancellations received via letter or fax at least 10 working days before the event. We will            Card #: ____________________________________              Exp. Date: ________
be pleased to transfer your registration to another member of your company, or credit the
registration fee to another Infocast conference if you register within 6 months from the date of this      Card Holder Name:_____________________________________________
conference. In the event the conference is cancelled, Infocast’s liability is limited to the refund of
the conference registration fee only.                                                                      Signature: _____________________________________________________
Infocast is a division of Information Forecast, Inc., a California Corporation.



An Infocast Business Intelligence Conference                                                             February 20-21, 2008
Distressed Real Estate                                                                                   Doubletree Guest Suites Times Square,
                                                                                                         New York, NY
                                                                                                                                                                          PRE-SORTED
                                                                                                                                                                          STANDARD US
Investing Summit                                                                                                                                                         POSTAGE PAID
                                                                                                                                                                           ARCADIA, CA
                                                                                                                                                                         PERMIT NO. 436
Infocast
6800 Owensmouth Ave.
Suite 300
Canoga Park, CA 91303

				
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